How much is the Bahamas income tax rate?

There are no income, capital gains, wealth, inheritance, succession, gift, or unemployment taxes in the Bahamas. In The Bahamas, foreign businesses are not taxed on their earnings, although they may be compelled to make national insurance contributions. Employees and employers must pay tax rates with 3.9% and 5.9% of their earnings, respectively, up to a maximum annual earnings of 670 Bahamian dollars (BSD) each week or 2,903 per month. This maximum level was set in 2018, and will be subject to a two-year rise based on the projected growth in average salaries. Although, due to the Covid pandemic, there was not a new level in 2020.